The firm said it was now seeing the first stirrings in the London property market which would result in a better pipeline of work opportunities.

Nick Taylor, Chief Executive, said: “We have witnessed increased activity in the property sector by UK developers and several of our engineering and environmental businesses are recruiting again.

“We are currently being appointed for pre-acquisition due diligence studies and planning work for developments which will place Waterman in a good position for future commissions as these projects move to construction.

“London remains a very strong market for Waterman and our long standing client relationships continue to assist us in securing future work.”

But challenging market conditions and pressure and fees dampened the consultant’s results for the first six months of the year with profits down to £100,000 from £2.8m. Revenue also slipped 7% to £33m.

Taylor added: “Underlying operating profit before exceptional items and tax is in line with the previous year and reflects the current competitive environment.”

Despite flat trading UK operations, which provided 72% of group revenue, saw a growth of 2% over the last six months.

It has the structural design job for the 1m sq Google headquarters complex at King’s Cross in London.

On the residential side, the consultancy is providing engineering support to Westminster City Council on the flagship redevelopment of the existing housing estate at Tollgate Gardens, London.

In London, Waterman is working on commercial projects which are in the construction phase for clients such as Land Securities, Stanhope, Helical Bar, British Land and The Crown Estate.

In the residential sector, it is engaged on developments with Argent, Native Land, Grosvenor, Barratt Homes, Berkeley, Mount Anvil and Taylor Wimpey.